Peakstone Realty Trust Plans Quarterly Dividend of $0.23 (NYSE:PKST)

Peakstone Realty Trust (NYSE:PKST) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.225 per share on Thursday, April 17th. This represents a $0.90 dividend on an annualized basis and a yield of 8.63%. The ex-dividend date is Monday, March 31st.

Peakstone Realty Trust has a payout ratio of -214.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Peakstone Realty Trust to earn $2.07 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 43.5%.

Peakstone Realty Trust Stock Performance

PKST stock opened at $10.43 on Friday. The firm has a market cap of $379.44 million, a PE ratio of -37.25 and a beta of 2.58. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 1.03. The stock has a 50-day moving average price of $10.99 and a 200-day moving average price of $12.52. Peakstone Realty Trust has a 1-year low of $9.89 and a 1-year high of $16.86.

Peakstone Realty Trust (NYSE:PKST) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.85. Peakstone Realty Trust had a negative net margin of 4.38% and a negative return on equity of 0.85%. The business had revenue of $57.93 million during the quarter, compared to analysts’ expectations of $54.68 million. As a group, equities research analysts expect that Peakstone Realty Trust will post 2.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial upped their price target on Peakstone Realty Trust from $13.00 to $15.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. UBS Group began coverage on Peakstone Realty Trust in a research report on Thursday, January 16th. They set a “buy” rating and a $15.00 target price on the stock.

About Peakstone Realty Trust

Peakstone Realty Trust (NYSE: PKST) is an internally managed, real estate investment trust (REIT) that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties. These assets are generally leased to creditworthy tenants under long-term net lease agreements with contractual rent escalations.